TD Asset Management Inc. boosted its stake in Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) by 17.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 835,215 shares of the software maker’s stock after purchasing an additional 124,435 shares during the quarter. TD Asset Management Inc.’s holdings in Shopify were worth $564,971,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Congress Wealth Management LLC DE purchased a new position in Shopify in the 4th quarter worth approximately $256,000. Mercer Global Advisors Inc. ADV grew its position in shares of Shopify by 16.8% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,756 shares of the software maker’s stock worth $5,174,000 after buying an additional 541 shares in the last quarter. Sandy Cove Advisors LLC bought a new stake in Shopify during the fourth quarter valued at about $62,000. Envestnet Asset Management Inc. boosted its position in Shopify by 3.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 115,841 shares of the software maker’s stock valued at $159,559,000 after purchasing an additional 3,545 shares in the last quarter. Finally, Modera Wealth Management LLC purchased a new stake in Shopify in the fourth quarter valued at about $214,000. Hedge funds and other institutional investors own 62.60% of the company’s stock.
Shopify Price Performance
Shares of SHOP traded down $1.70 during mid-day trading on Wednesday, hitting $37.88. 824,855 shares of the stock were exchanged, compared to its average volume of 37,016,464. The firm has a 50-day moving average of $41.71 and a two-hundred day moving average of $52.49. Shopify Inc. has a 52-week low of $29.72 and a 52-week high of $176.29. The company has a market cap of $47.69 billion, a PE ratio of -24.92 and a beta of 1.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 11.17 and a current ratio of 11.17.
Analysts Set New Price Targets
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
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